Key Points
WASHINGTON (Reuters) -U.S. stocks fell Tuesday, and oil slid over 1% as investors found fresh concerns over whether the Federal Reserve was done hiking interest rates and the resilience of Chinas economy...
The U.S. Commerce Department reported that U.S. retail sales had increased by 0.7% in July, ahead of the 0.4% boost economists had anticipated, leading investors to wonder if the Fed may have longer to go on its rate-hiking campaign to tame inflation...
Yields on both 2-year and 10-year treasuries moved a bit following the report but the sales data do not support any material change in expectations for the next Fed meeting, said Jeffrey Roach, chief economist for LPL Financial...
Elsewhere, concerns about the strength of Chinas economy weighed on oil markets, where crude dipped by nearly 2% on sluggish economic data from the country and concerns Beijings surprise rate cuts were insufficient...
Emerging markets remained in focus a day after Argentina devalued its currency by nearly 18%, while Russias central bank on Tuesday raised interest rates by 350 basis points at an extraordinary meeting following a fresh slide in the rouble...
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